Qualcomm says Broadcom suit 'meritless'

SteveGelsi

NEW YORK (MarketWatch) -- Qualcomm
QCOM, -0.66%
said Wednesday an antitrust suit by Broadcom
brcm
is "meritless" and that it will proceed with litigation of its own over the mattter. Broadcom filed a complaint on July 1 in federal court. "Qualcomm's licensing practices are lawful, fair, reasonable and pro-competitive," Qualcomm said. Broadcom's allegations regarding monopolization by Qualcomm of a "so-called 'WCDMA market' are likewise demonstrably false," Qualcomm said. Shares of Qualcomm fell a penny to $33.59 on Tuesday. Broadcom rose 64 cents to $36.74.

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